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ATTACHMENT B RESOLUTION NO. _______ A RESOLUTION APPROVING A MULTIPLE-UNIT PROPERTY TAX EXEMPTION FOR RESIDENTIAL PROPERTY LOCATED AT 1367 HIGH STREET, EUGENE, OREGON (PEARL ON CAMPUS LLC/APPLICANT). The City Council of the City of Eugene finds that: A. Pearl on Campus LLC is the owner of real property located at 1367 High Street, Eugene, Oregon, more particularly described in Exhibit A attached to this Resolution. Pearl on Campus LLC has submitted an application pursuant to the City’s Multiple-Unit Property Tax Exemption Program (Sections 2.945 and 2.947 of the Eugene Code, 1971), with respect to residential units to be constructed on the property. B. The project consists of the development of two two-bedroom units, four three- bedroom units, and two four-bedroom units, for a total of eight residential units, which are not designed for, nor will be used as, transient accommodations. C. The project is located within the boundaries of the core area as described in subsection (2) of Section 2.945 of the Eugene Code, 1971. D. The project could not financially be built “but for” the tax exemption. E. The applicant solicited comments from city-recognized affected neighborhood associations. F. The requirements in the Standards and Guidelines for Multiple-Unit Housing Property Tax Exemptions adopted by Administrative Order No. 53-09-01-F related to proximity to historic resources have been satisfied. G. The applicant has complied with the provisions of the Standards and Guidelines as described in the Report and Recommendation attached as Exhibit B to this Resolution prepared by the Executive Director of the Planning and Development Department (“the Director”) as designee of the City Manager. H. The project will be completed on or before January 1, 2012, and the owner has agreed to include in the construction one or more public benefits. I. The proposed project is, or will be at the time of completion, in conformance with all local plans and planning regulations, including special or district-wide plans developed and adopted pursuant to ORS chapters 195, 196, 197, 215 and 227, that are applicable at the time the application is approved. Z:\CMO\2009 Council Agendas\M091109\S0911093-and att'sABCFG.doc